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Chapter 5: Conclusion and recommendations
Nollywood is hindered from becoming a global entertainment industry due to market
failures requiring reforms from the public and private sector
. Although Nigeria prolific
movie industry does not benefit from any support from the government and worth more
than $ 250 million, the industry is characterized by a low level of production standards,
important marketing and distribution linkages and a limited access to finance. Further
they are few global linkages, a strong need to improve quality at all stages of the value
chain and to address the issue of piracy which makes it difficult for producers to recoup
their costs.
A recent World Bank discussion paper on “Youth Employment in Africa” identifies a
strategy to improve youth employment
whose conclusions should be reflected in the
reform framework of the Nigerian movie industry.
According to the study, the
government
has to tackle the root causes of and not just the symptoms of the issue and
therefore African policy-makers will have to establish a coherent and comprehensive
strategy with four subcomponents: health and family planning, literacy and education and
skills, investment climate and finally targeted Investments. In the specific case of
Nollywood a reform framework should focus on improving the investment climate and
includes targeted investment. Overall it is critical to improve the investment climate in
the industry since a good investment climate stimulates investment and job creation.
Further, direct public support is required through targeted investments justified by the
great potential offered by the movie industry in terms of improvement of production
standards and growth.
Figure 14: Nollywood needs reform while creating youth employment